Infrastructure Capital Advisors LLC Has $6.71 Million Holdings in Tallgrass Energy LP (NYSE:TGE)
Infrastructure Capital Advisors LLC grew its stake in Tallgrass Energy LP (NYSE:TGE) by 41.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 318,666 shares of the company’s stock after buying an additional 94,056 shares during the period. Tallgrass Energy makes up approximately 0.8% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 21st biggest position. Infrastructure Capital Advisors LLC’s holdings in Tallgrass Energy were worth $6,714,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Arlington Partners LLC acquired a new stake in shares of Tallgrass Energy in the second quarter worth about $32,000. Lee Financial Co acquired a new position in shares of Tallgrass Energy during the 2nd quarter worth about $44,000. Avestar Capital LLC acquired a new position in shares of Tallgrass Energy during the 1st quarter worth about $52,000. Price Wealth Management Inc. acquired a new position in shares of Tallgrass Energy during the 2nd quarter worth about $60,000. Finally, Seeyond acquired a new position in shares of Tallgrass Energy during the 2nd quarter worth about $90,000. 64.41% of the stock is owned by institutional investors.
Shares of NYSE TGE traded down $0.02 during trading hours on Thursday, hitting $19.97. 34,021 shares of the company’s stock were exchanged, compared to its average volume of 1,366,356. Tallgrass Energy LP has a 1-year low of $14.28 and a 1-year high of $25.96. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.69 and a quick ratio of 0.61. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.89 and a beta of 0.69. The company’s 50-day moving average price is $18.09 and its 200-day moving average price is $22.08.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 10.82%. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Tuesday, July 30th. Tallgrass Energy’s payout ratio is currently 170.08%.
Several equities analysts recently weighed in on TGE shares. Scotiabank started coverage on Tallgrass Energy in a research report on Tuesday, September 3rd. They set a “sector perform” rating and a $19.50 price objective for the company. ValuEngine raised Tallgrass Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 28th. Robert W. Baird cut Tallgrass Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $28.00 to $20.00 in a research report on Thursday, August 29th. Zacks Investment Research raised Tallgrass Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Citigroup started coverage on Tallgrass Energy in a research report on Tuesday, June 25th. They set a “buy” rating and a $23.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Tallgrass Energy presently has a consensus rating of “Hold” and an average price target of $23.50.
About Tallgrass Energy
Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling.
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